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Performance Measurement Using Balanced Score Card


Dr. Lokanandha Reddy Irala


KKC Institute of PG Studies; WINGS BUSINESS SCHOOL

April 10, 2007


Abstract:     
In the global knowledge economy, creation, sustenance and application of knowledge has become the key differentiator of success. Many companies have realized that management of knowledge and the knowledge workers as a critical source of competitive edge than the traditional effective physical asset management

There has been growing criticism of financial measures in performance evaluation system and variety of new measures were floated in the last two decades, Balanced Score Card is an important one among them

Balanced scorecard is a set of measures that gives top managers a fast but comprehensive view of the business. It pulls together, all important elements of a company's competitive agenda. Through this, the top management can better understand the internal trade offs - whether the value addition in one area is achieved at the cost of another.

The major limitation of the balanced score card is that it promotes multiple objectives. Despite the criticism the balanced score card continues to be a very important tool of performance measurement all over the globe. However, the difficulty in balancing the various measures together, prioritizing the perspectives and parameters/assigning weights continues to be an area of major concern in its implementation

Use of Balanced score card with much broader utility of linking strategy and translating vision into actions are yet to be empirically established.

Number of Pages in PDF File: 8

Keywords: Corporate Performance, Balanced Score Card, Corporate Objective, Financial measures, Non financial measures

JEL Classification: G00, J33, L21, M40, M52

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Date posted: April 19, 2007 ; Last revised: August 30, 2012

Suggested Citation

Irala, Dr. Lokanandha Reddy, Performance Measurement Using Balanced Score Card (April 10, 2007). Available at SSRN: http://ssrn.com/abstract=980691 or http://dx.doi.org/10.2139/ssrn.980691

Contact Information

Dr. Lokanandha Reddy Irala (Contact Author)
KKC Institute of PG Studies ( email )
PR Mangalam
Puttur, Andhra Pradesh 517583
India
9866539823 (Phone)
WINGS BUSINESS SCHOOL ( email )
KKV PURAM(V)
TIRUPATI, ANDHRA PRADESH 517561
India
919866539823 (Phone)
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